G4S Directors Resign Over Olympic Security Debacle

A review into G4S's Olympic Games contract has prompted the resignations of two of the company's directors, while chief executive Nick Buckles remains in place.

G4S has attracted plenty of negative press over the rather shambolic handling of its Olympic contract. Last week, MPs called for the company to hand back the £57m it was paid to supply 10,400 security staff for the Games. Home Affairs Select Committee chairman Keith Vaz welcomed the decision of directors David Taylor-Smith and Ian Horseman Sewell to resign.

The review by consultants at PricewaterhouseCoopers concluded that the company did in fact have the capacity to meet the demands of the contract but "the issue was in its delivery". It also highlighted that standard G4S operational and organisational practices were inadequate for the size and complexity of the Olympic deal. Nick Buckles branded the whole affair “a humiliating shambles”.

London mayor Boris Johnson spoke out in support of the directors' resignations, stating on LBC radio that he was not going to try and persuade them to stay.

So what does the future hold for G4S? The company has promised to make considerable changes. It will appoint a new chief operating officer, has promised to examine new contracts more thoroughly, and even claims that the board of directors will be instructed to oversee all of their most lucrative contracts where the annual income is more than £50m.

But given its performance this summer, we can’t help but wonder who exactly G4S's next big client will be.